Monday Market Memo 9-22 through 9-29 2008

Wasilla and Palmer real estate statistics.  These statistics are for single family residential homes in the whole Mat-Su Borough.  The vast majority of real estate transactions take place in the core area of Palmer and Wasilla.

The inventory is dropping drastically as we head into winter.  I expect the total inventory to be under 800 by November and it might get into the 600s by January. 

Although the inventory dropped, the pendings and closed sales were healthy this week.  I personally have been very busy this week with residential sales.  I would say that other people have been busy as well based on this weeks numbers.

 

Average PriceMedian PriceDOM
New48$308,434$224,500.
Total Active856$295,434$244,950135
Pending33$239,000$239,00071
Closed42$202,310$205,00096

Notice the huge discrepancy between average price and median price for new listings…that’s because of this one listing  for almost $3,000,000.  It has 766 acres of pure wilderness.

The charts below are the latest from the Alaska MLS.  Click on them to expand.

9-08 chartTrend 9-08Number sold 9-08

This representation is based in whole or in part on data supplied by, and to, the subscribers of Alaska Multiple Listing Service, Inc. (AK MLS, Inc.). AK MLS, Inc. does not guarantee nor is it in any way responsible for its accuracy. Data maintained by AK MLS, Inc. is for its own use and may not reflect all real estate activity in the market.